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<p class="is-style-lead">The latest virtual asset index has been unveiled by the Hong Kong Virtual Assets Consortium (HKVAC), a rating agency specializing in evaluating the reliability of cryptocurrency assets and exchanges.</p>
<p>Quarterly adjustments to its global large cryptocurrency index include the addition of Hedera, Maker, and Quant and removal of Cryptonex, ICP, and HEX.</p>
<h2 class="wp-block-heading" id="a-new-top-five">A new top five</h2>
<p>The main goal of HKVAC is to provide investors and regulators with a trustworthy benchmark for assessing the performance and risks associated with virtual assets.</p>
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   <p lang="en" dir="ltr">(Hong Kong, 13 Oct 2023) – HKVAC today announced the rebalancing results of the HKVAC Key Indexes and HKVAC Market Indexes.<br><br>The rebalancing results for those indexes will be available at <a href="https://t.co/aBBFho5wnL" target="_blank" rel="noopener noreferrer nofollow">https://t.co/aBBFho5wnL</a>. All changes will come into effect on 20 October 2023 (Friday).</p>— HKVAC (@hongkongvac) <a href="https://twitter.com/hongkongvac/status/1712740364153688505?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">October 13, 2023</a>
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<p>Therefore, the revised index, which now features the top five cryptocurrencies as BTC, ETH, USDT, BNB, and XRP, with XRP replacing the original USDC in this prominent cryptocurrency benchmark, signifies the prominence of certain currencies in the crypto ecosystem.&nbsp;</p>
<p>You might also like: <a href="https://crypto.news/largest-etf-manager-in-hong-kong-analyzes-crypto-possibilities/" rel="noopener noreferrer nofollow"> Largest ETF manager in Hong Kong analyzes crypto possibilities </a></p>
<p>At the same time, the HKVAC Global Large Cryptocurrency Top 10 Index and Top 10 Equal Weight Index remain unchanged.</p>
<p>The press release goes on to state that&nbsp;<a href="https://www.hkvac.io/downloads/HKVAC_Index_Rebalancing_Press_Release_EN.pdf" target="_blank" rel="noopener noreferrer nofollow">rebalancing outcomes</a>, with all modifications will take effect on Oct. 20. Comprehensive details will be released on the official HKVAC website at 4:30 PM on the same date.</p>
<h2 class="wp-block-heading" id="stablecoins-deemed-not-allowed">Stablecoins deemed not allowed</h2>
<p>The news comes just one week after authorities reiterated that&nbsp;<a href="https://crypto.news/hong-kong-official-states-retail-stablecoins-trading-not-yet-allowed/" target="_blank" rel="noopener noreferrer nofollow">retail investors</a>&nbsp;will not be allowed to trade stablecoins until they are subject to regulation, expected to be implemented in 2024, although different rules are said to apply for other cryptocurrencies.</p>
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<p>This development comes in the wake of increased scrutiny surrounding the virtual asset trading platform JPEX, which is suspected of being involved in a fraud conspiracy.</p>
<p>Read more: <a href="https://crypto.news/hong-kong-official-states-retail-stablecoins-trading-not-yet-allowed/" rel="noopener noreferrer nofollow"> Hong Kong official states retail stablecoins trading not yet allowed </a></p>

HKVAC’s global cryptocurrency index welcomes Hedera, Maker, and Quant

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